I noticed that there are a number of discussions about people being in accidents and then receiving a pittance for their prized BMW. As an independent insurance broker, I have some info and advice that may be helpful. If you have a "collector" car (and by this it means it is a collector to you) and you simply add it to your existing auto insurance policy, you will get some value based on KBB or some other used car metric that will be significantly below what you think it is worth. However, assuming you have another car as your daily driver, you can insure your prized car separately as a collector car at an agreed value. That means you and the insurance company agree on the value of the vehicle ahead of time and in the event of a loss, they will pay the agreed value - no muss no fuss. And usually the premium is often 40% less than the premium you pay for the car now through your existing insurance. There are only a few insurance companies that write this kind of risk but they are out there. If you would like more info on this, feel free to reach out.
